FDIC chairman comes under fire during ‘Operation Choke Point’ hearings

FDIC Chairman Martin Gruenberg came under fire Tuesday at a House subcommittee hearing over allegations that Operation Choke Point, a controversial federal law enforcement program, abused its authority by cutting off funding for targeted businesses.

 

During one exchange, Rep. Sean Duffy, R-Wisc., suggested Gruenberg step down as head of the Federal Deposit Insurance Corporation after Gruenberg was unable to answer questions about employees involved with Choke Point as well as specific allegations the agency overstepped its authority.

 

Duffy said the hearing was called to get answers directly from Gruenberg on what he knew, when he knew it and who has been held accountable.

 

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